The global Medical Equipment Rental market size is expected to be worth around US$ 74.07 billion by 2030, according to a new report by Vision Research Reports.
The global Medical Equipment Rental market size was valued at US$ 55.84 billion in 2020 and is anticipated to grow at a CAGR of 6.4% during forecast period 2021 to 2030.
The high number of geriatric and disabled population coupled with rising need for home healthcare products is propelling the market.
Rising concerns regarding palliative care coupled with regulatory transformations for the same are poised to augment the market. Regulatory transformation or programs adopted by hospitals for palliative care are resulting in increased demand for rental equipment.
Rising demand for technologically advanced clinical devices and increasing healthcare expenditure is encouraging R&D activities in the medical devices industry are resulting in the launch of expensive variants of medical products. This is anticipated to positively influence the growth of the medical equipment rental market.
Dominance of durable medical equipment (DME) can be attributed to increasing adoption of personal mobility and assist aids by disabled individuals. In addition, surging demand for monitoring and therapeutic instruments owing to the increasing patient pool and continuous technological upgrades in these devices are spurring the growth of the DME rental market.
Healthcare providers have been facing issues of unhandled frozen capital with frequent new product launches. Simultaneously, excess investment in medical device procurement is encouraging players to opt for rental devices in order to liquefy frozen capital. In addition, the purchase of new equipment involves spacing concerns, owing to which healthcare providers prefer leasing.
The segment accounted for the largest share in the market. Rising need for mobility and assist equipment owing to the increasing number of disabled and geriatric population is contributing to the growth of the market. Among different DME, monitoring and therapeutic devices are likely to witness significant gain in rental revenues during the forecast period owing to rising demand for wireless monitoring devices and growing incidence of lifestyle diseases that require routine vital statistics analysis.
Personal mobility devices are also expected to experience healthy growth in demand during the same period. Introduction of technologically advanced products such as automated recliners and sling lifts is anticipated to supplement the growth of the market.
The hospital segment accounted for the largest share in the market in 2020. The growth of the segment can be attributed to the rising patient pool and increasing government reforms regarding the adoption of advanced healthcare infrastructure. Over the past few years, equipment procurement has been observed to be substituted by financing systems such as renting/leasing. Soaring need for liquefying frozen capital along with rising issues regarding inefficient capital deployment are propelling the medical equipment rental market.
In addition, the convenience of splitting capital expenditure over a few months in case of rental services is poised to benefit healthcare providers. Moreover, rising concerns for diagnostic efficiency and enhanced patient output rates coupled with spiraling demand for lowered pre-therapeutic costs are projected to augment the overall market.
The personal/home care segment is estimated to emerge as the fastest-growing segment during the forecast period. Rising need for geriatric care centers and home healthcare devices is one of the primary factors spurring the growth of the segment. Increasing incidence of lifestyle-associated diseases such as obesity and diabetes and other disorders including cardiac conditions is likely to bolster the adoption of medical rental equipment.
North America dominated the market in 2020 and is expected to remain dominant through 2025. Presence of a large number of service providers and high demand for technologically advanced products are escalating the growth of the regional market. The region faces issues of excess expenditure on the purchase of the latest therapeutic apparatus, which can be tackled by leasing equipment.
The region was followed by Europe in 2020 in terms of revenue. Rising prevalence of chronic diseases such as Parkinson’s, Huntington’s disease, and atherosclerosis, the proliferation of home health care services, and rapidly growing geriatric population are providing a fillip to the market in Europe. In addition, educational institutes and research laboratories are looking forward to reducing operational and procurement costs, leading to greater adoption of rental equipment globally.
Hill-Rom Holdings, Inc.; Siemens Financial Services, Inc.; Nunn’s Home Medical Equipment; Westside Medical Supply; Universal Hospital Services, Inc.; and Woodley Equipment Company Ltd.
Durable Medical Equipment
Personal Mobility Devices
Bathroom Safety and Medical Furniture
Monitoring and Therapeutic Devices
Storage and Transport
Middle East & Africa
The Medical Equipment Rental market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Equipment Rental market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Equipment Rental market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Equipment Rental market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Equipment Rental market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Equipment Rental capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Equipment Rental by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Equipment Rental market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Equipment Rental market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Equipment Rental market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Equipment Rental industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Medical Equipment Rental market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Equipment Rental market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Equipment Rental market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Equipment Rental market. These factors have benefited the growth of the global market for Medical Equipment Rental. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Equipment Rental. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Equipment Rental are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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